{"id":326746,"date":"2024-06-11T09:55:56","date_gmt":"2024-06-11T08:55:56","guid":{"rendered":"https:\/\/www.withinnigeria.com\/news\/?p=326746"},"modified":"2024-06-11T09:55:56","modified_gmt":"2024-06-11T08:55:56","slug":"cbn-guarantees-safety-of-depositors-funds","status":"publish","type":"post","link":"https:\/\/www.withinnigeria.com\/news\/2024\/06\/11\/cbn-guarantees-safety-of-depositors-funds\/","title":{"rendered":"CBN guarantees safety of depositors\u2019 funds"},"content":{"rendered":"<ul>\n<li><strong><strong>This statement addressed concerns about the stability of some Nigerian banks following the revocation of Heritage Bank Plc\u2019s license<\/strong><\/strong><br \/>\n<hr \/>\n<\/li>\n<\/ul>\n<p>The Central Bank of Nigeria has reassured the public of the safety of their deposits and the resilience of the banking system.<\/p>\n<p>Mrs. Hakama Sidi-Ali, the Acting Director of the Corporate Communications Department, conveyed this assurance in a statement on Monday in Abuja.<\/p>\n<p>This statement addressed concerns about the stability of some Nigerian banks following the revocation of Heritage Bank Plc\u2019s license.<\/p>\n<p>Sidi-Ali refuted claims that the CBN was considering revoking the operating licenses of Fidelity, Polaris, Wema, and Unity Banks.<\/p>\n<p>She also clarified that a circular issued by the Bank on January 10, 2024, regarding the dissolution of the Boards of Union, Keystone, and Polaris Banks, was being recirculated as if it were new.<\/p>\n<p>The director emphasized that the situation with Heritage Bank was an isolated case.<\/p>\n<p>\u201cAllegations of further revocation of licences prior to the completion of CBN\u2019s recapitalisation exercise are mere fabrications aimed at creating panic within the system,\u201d she said.<\/p>\n<p>She said that bank customers, particularly those of Heritage Bank, need not worry about the safety of their deposits, adding that the Nigeria Deposit Insurance Corporation (NDIC) had commenced payment to the bank\u2019s insured depositors.<\/p>\n<p>Sidi-Ali urged members of the public to continue their regular banking activities without fear, dismissing any false reports regarding the health of specific Deposit Money Banks.<\/p>\n<p>\u201cThe CBN, with its robust regulatory framework, is proactively ensuring the stability of Nigeria\u2019s financial system, thereby guaranteeing the safety of depositors\u2019 funds in all Nigerian financial institutions,\u201d she said.<\/p>\n<p>Sidi-Ali reiterated the assurances of the CBN Governor, Olayemi Cardoso, that the recapitalisation of banks in Nigeria was intended to bolster the banking system and safeguard the sector against risks.<\/p>\n<p>She urged all stakeholders to cooperate in ensuring the success of the process, which she said would be for the overall growth of the Nigerian economy.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>This statement addressed concerns about the stability of some Nigerian banks following the revocation of Heritage Bank Plc\u2019s license The Central Bank of Nigeria has reassured the public of the safety of their deposits and the resilience of the banking system. Mrs. Hakama Sidi-Ali, the Acting Director of the Corporate Communications Department, conveyed this assurance [&hellip;]<\/p>\n","protected":false},"author":49,"featured_media":275010,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":{"source_name":"","source_url":"","via_name":"","via_url":"","override_template":"0","override":[{"template":"2","single_blog_custom":"211693","parallax":"1","fullscreen":"1","layout":"right-sidebar","sidebar":"default-sidebar","second_sidebar":"default-sidebar","sticky_sidebar":"1","share_position":"top","share_float_style":"share-monocrhome","show_share_counter":"1","show_view_counter":"0","show_featured":"1","show_post_meta":"1","show_post_author":"1","show_post_author_image":"1","show_post_date":"1","post_date_format":"default","post_date_format_custom":"Y\/m\/d","show_post_category":"1","show_post_reading_time":"1","post_reading_time_wpm":"300","show_zoom_button":"1","zoom_button_out_step":"2","zoom_button_in_step":"3","show_post_tag":"0","show_prev_next_post":"0","show_popup_post":"0","number_popup_post":"1","show_author_box":"0","show_post_related":"0","show_inline_post_related":"1"}],"override_image_size":"0","image_override":[{"single_post_thumbnail_size":"crop-500","single_post_gallery_size":"crop-500"}],"trending_post":"0","trending_post_position":"meta","trending_post_label":"Trending","sponsored_post":"0","sponsored_post_label":"Sponsored by","sponsored_post_name":"","sponsored_post_url":"","sponsored_post_logo_enable":"0","sponsored_post_logo":"","sponsored_post_desc":"","disable_ad":"0"},"jnews_primary_category":{"id":"","hide":""},"jnews_override_bookmark_settings":{"override_bookmark_button":"0","override_show_bookmark_button":"0"},"jnews_override_counter":{"override_view_counter":"0","view_counter_number":"0","override_share_counter":"0","share_counter_number":"0","override_like_counter":"0","like_counter_number":"0","override_dislike_counter":"0","dislike_counter_number":"0"},"footnotes":""},"categories":[2],"tags":[1172,704,71177,23396],"class_list":["post-326746","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-national","tag-central-bank-of-nigeria","tag-economy","tag-olayemi-cardoso","tag-risks"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.8 (Yoast SEO v27.8) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ 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